Madrigal Pharmaceuticals (NASDAQ:MDGL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, May 29th.

According to Zacks, “Madrigal Pharmaceuticals, Inc. is engaged in developing small-molecule drugs addressing cardiovascular and metabolic diseases. Its products pipeline include MGL-3196, an orally administered liver-directed thyroid hormone receptor-ß agonist that is used for the treatment of NASH, dyslipidemia/hypercholesterolemia and high triglycerides; and MGL-3745, a thyroid hormone receptor-ß agonist which are in pre-clinical trial stage. Madrigal Pharmaceuticals Inc., formerly known as Synta Pharmaceuticals Corp., is based in Fort Washington, Pennsylvania. “

A number of other equities analysts also recently commented on the company. HC Wainwright lifted their price objective on Madrigal Pharmaceuticals to $178.00 and gave the stock a “buy” rating in a research report on Thursday, May 24th. Cowen restated a “buy” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, May 10th. Oppenheimer set a $130.00 target price on Madrigal Pharmaceuticals and gave the company a “hold” rating in a research report on Tuesday, May 8th. ValuEngine upgraded Madrigal Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Goldman Sachs Group assumed coverage on Madrigal Pharmaceuticals in a research report on Friday, March 23rd. They issued a “buy” rating and a $191.00 target price on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Madrigal Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $291.43.

Shares of NASDAQ MDGL traded down $12.58 during midday trading on Tuesday, hitting $300.66. The stock had a trading volume of 485,634 shares, compared to its average volume of 333,283. The company has a market cap of $3.90 billion, a PE ratio of -118.37 and a beta of 1.82. Madrigal Pharmaceuticals has a 1 year low of $13.09 and a 1 year high of $325.98.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last released its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.33. research analysts forecast that Madrigal Pharmaceuticals will post -2.58 EPS for the current fiscal year.

In other Madrigal Pharmaceuticals news, CFO Marc R. Schneebaum sold 10,099 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $287.46, for a total transaction of $2,903,058.54. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rebecca Taub sold 73,526 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $287.46, for a total value of $21,135,783.96. The disclosure for this sale can be found here. Insiders have sold a total of 363,625 shares of company stock worth $104,527,643 in the last quarter. 56.70% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in Madrigal Pharmaceuticals by 9.1% in the first quarter. California State Teachers Retirement System now owns 7,199 shares of the biopharmaceutical company’s stock valued at $841,000 after purchasing an additional 599 shares during the period. Rhumbline Advisers raised its position in Madrigal Pharmaceuticals by 24.0% in the first quarter. Rhumbline Advisers now owns 4,143 shares of the biopharmaceutical company’s stock valued at $484,000 after purchasing an additional 801 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Madrigal Pharmaceuticals by 11.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,757 shares of the biopharmaceutical company’s stock valued at $804,000 after purchasing an additional 900 shares during the period. Schwab Charles Investment Management Inc. raised its position in Madrigal Pharmaceuticals by 12.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 9,928 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 1,100 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Madrigal Pharmaceuticals by 64.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,553 shares of the biopharmaceutical company’s stock valued at $326,000 after purchasing an additional 1,399 shares during the period. 44.25% of the stock is currently owned by institutional investors.

Madrigal Pharmaceuticals Company Profile

Madrigal Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapeutic candidates for the treatment of cardiovascular, metabolic, and liver diseases. The company's lead candidate is MGL-3196, an orally administered, small-molecule, liver-directed, thyroid hormone receptor (THR) ß-selective agonist, which is in Phase II clinical trials for the treatment of non-alcoholic steatohepatitis and heterozygous familial hypercholesterolemia.

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